Gov. John Hickenlooper signed House Bill 1245, sponsored by Rep. Beth McCann, D-Denver, which gives to the exchange $23.5 million over the next two years that had been used to fund the soon-to-be-defunct Cover Colorado health insurance program.

The bill also allows the exchange to collect a small portion of the current 1.8 percent assessment on each health insurance policy sold in the state that had been used to fund Cover Colorado.

And it also allows the board of the exchange, known as Connect for Health Colorado, to collect as much as $5 million a year in tax-deductible contributions from insurers to operate.

Connect for Health Colorado is scheduled to begin operations on Oct. 1.

Essentially it is an Internet marketplace where individuals and small businesses can shop for health insurance and use their combined buying power to try to slow the rise of insurance premiums.

Mandated as part of the federal Affordable Care Act, known by many as Obamacare, its creation is largely supported by business groups seeking some relief from skyrocketing rates.

Hickenlooper's signing of the bill occurred without comment from the Democratic governor.

It came one day after the Colorado Division of Insurance released a list of insurers that have submitted plans to be sold in the exchange next year.

The list shows that 11 different companies filed 242 different plans for individuals and companies to choose from -- including plans from all the major insurers in the state.

"The number of insurers that have filed plans to be sold on the new exchange shows our industry's commitment to quality, affordable healthcare for all," said Ben Price, executive director of the Colorado Association of Health Plans.